Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Receives $55.14 Average Target Price from Brokerages

Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) have been assigned an average recommendation of “Hold” from the fifteen brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $55.1364.

A number of brokerages have recently commented on TERN. JPMorgan Chase & Co. increased their price objective on Terns Pharmaceuticals from $44.00 to $44.50 and gave the company an “overweight” rating in a research report on Tuesday, April 14th. Leerink Partners cut Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Oppenheimer reaffirmed a “market perform” rating and set a $58.00 target price on shares of Terns Pharmaceuticals in a report on Monday, April 27th. Barclays reiterated an “equal weight” rating and issued a $53.00 price target (down from $56.00) on shares of Terns Pharmaceuticals in a research report on Monday, March 30th. Finally, TD Cowen cut Terns Pharmaceuticals from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a research note on Thursday, March 26th.

Insider Activity

In related news, insider Emil Kuriakose sold 942 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $52.75, for a total value of $49,690.50. Following the completion of the transaction, the insider owned 105,673 shares of the company’s stock, valued at approximately $5,574,250.75. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Amy L. Burroughs sold 14,583 shares of Terns Pharmaceuticals stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $46.71, for a total transaction of $681,171.93. Following the transaction, the chief executive officer owned 288,976 shares in the company, valued at approximately $13,498,068.96. The trade was a 4.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 30,108 shares of company stock valued at $1,302,370. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Commodore Capital LP purchased a new stake in Terns Pharmaceuticals in the 3rd quarter worth about $42,807,000. Vestal Point Capital LP acquired a new stake in shares of Terns Pharmaceuticals during the fourth quarter worth approximately $181,800,000. Avoro Capital Advisors LLC acquired a new position in Terns Pharmaceuticals in the 4th quarter valued at approximately $175,740,000. Janus Henderson Group PLC acquired a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at $136,496,000. Finally, Capitolis Liquid Global Markets LLC purchased a new position in shares of Terns Pharmaceuticals during the 4th quarter valued at $123,026,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ TERN opened at $52.95 on Tuesday. Terns Pharmaceuticals has a 12-month low of $2.65 and a 12-month high of $53.19. The company has a market cap of $6.12 billion, a price-to-earnings ratio of -51.41 and a beta of -0.37. The stock’s 50 day simple moving average is $50.15 and its 200 day simple moving average is $38.53.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Monday, March 30th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.06. As a group, equities analysts forecast that Terns Pharmaceuticals will post -1.22 earnings per share for the current fiscal year.

About Terns Pharmaceuticals

Terns Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing oral small‐molecule therapies for the treatment of chronic liver diseases and other serious conditions. The company’s research and development efforts center on novel mechanisms of action designed to address the underlying causes of progressive liver disorders, including inflammation, fibrosis and metabolic dysregulation. By advancing targeted compounds that can be administered orally, Terns aims to offer patients more convenient and effective treatment options compared to injectable or biologic therapies.

The company’s pipeline features several candidates in various stages of preclinical and clinical evaluation.